Development[edit]
Developed by TrizecHahn and with funds from the Community Redevelopment Agency, Hollywood & Highland opened after three years of construction[5] in November 2001 and is part of an overall effort to revitalize Hollywood Boulevard.
The three-story centerpiece courtyard of the Center
The project is an example of joint development, in which a public agency leases the right to develop a parcel in exchange for improvements to the property, in this case, an enhanced portal to the Hollywood/Highland Metro Red Line station. TrizecHahn leased 1.35 acres (5,500 m2) of Los Angeles County Metropolitan Transportation Authority land for 55 years at a rate of $492,000 per year (with additional increases added every five years based on the Consumer Price Index) and four 11-year optional extensions.[6]
The corner of Hollywood and Highland in 2006.
The intersection of Hollywood and Highland, 1907
Leading up to the construction of the development the City of Los Angeles was persuaded, through its Community Redevelopment Agency (CRA), to contribute at least $90 million in 1998 toward the initial construction of Hollywood and Highland. This was in addition to the costs of constructing the Red Line subway station below the mall.[7]
Trizec Properties Inc. sold its interest in the development for over $200 million in 2004 to CIM Group. This was a substantial loss and represented an investment failure as it was estimated that Trizec spent at least $625 million to develop the center.[8]
The current owner, CIM Group (CIM), describes itself as a premier real estate fund manager that makes private equity and/or debt investments in urban communities throughout North America. CIM is headquartered in Hollywood in the TV Guide Building located across the street from Hollywood and Highland. (CIM also owns and manages the TV Guide Building.) CIM has active projects in Los Angeles, West Hollywood, Orange County, Pasadena, Santa Monica, Oakland, Washington D.C., Austin TX, Boulder CO, as well as other communities. One of their better known projects in the Los Angeles region is the Third Street Promenade in Santa Monica.[9] CIM rebranded Hollywood and Highland and repositioned the center with higher end tenants. In 2005, the center underwent renovations to add additional features such as escalators leading visitors from Hollywood Boulevard directly to the third floor of the central courtyard, new signage, and new stores.

Controversy and criticism[edit]
The Hollywood and Highland complex opened in 2001 with a conditional use permit that enabled, among other things, for the complex to have special exemptions of Los Angeles billboard ordinances. Despite objections of some residents and neighbors, in 2002 this agreement was amended and extended for an additional 20 years. L.A. City Councilman Eric Garcetti, who then represented the Hollywood-area district and was elected mayor in 2013, supported extending this special permit.[10]
The design of the center has been criticized. In 2007, Curbed L.A., an online magazine, named Hollywood and Highland the "winner" of their Ugliest Building in Los Angeles contest. In selecting Hollywood & Highland, they cited its aesthetics, pedestrian unfriendliness (including the lack of storefronts on the side facing Highland Ave.), confusing circulation, and "mish-mash of architectural styles".[11]

Impact[edit]
Costumed characters with tourists
The center played a significant role in attracting development to other parts of Hollywood Boulevard. The TV Guide Hollywood Center (formerly owned by CIM Group)[12] across the street reconstructed the ground floor and has attracted new tenants such as American Apparel, Baja Fresh, Hooters, and Coffee Bean & Tea Leaf. Other notable retail stores that have a presence on the Boulevard include clothier H&M and the Spanish retail chain Zara.[13] In addition, several blocks further east on Vine Street, a W Hotel opened incorporating the existing Hollywood/Vine Metro Red Line station.
The sidewalk in front of Hollywood and Highland is considered a coveted location for recent additions to the Hollywood Walk of Fame. As such is one of the few locations where the star memorials are "doubled up" rather than being placed linearly, in order for more stars to be accommodated in front of the center.
In February 2005, the Academy Awards statuettes were put on display for public viewing at Hollywood and Highland before the ceremony on March 5. Visitors could have a picture taken outside with a giant prop Oscar that was to be used on the red carpet and in the exhibit could learn about the history of the Academy Awards, see the statuettes that were to be presented, and even get their picture taken holding an actual Oscar statuette. It became extremely popular, so the Academy decided to continue it. The exhibit opened on February 9, 2006 and closed February 24, when the Oscars were removed and paraded down the red carpet into the Dolby Theatre.